House Panel Approves RTC Funding: The House...

House Panel Approves RTC Funding: The House Banking Committee voted to approve $10 billion in new funds for the cleanup of defunct savings and loans. The money would enable the federal Resolution Trust Corp. to keep operating through February. The committee vote also clarified the RTC’s authority to borrow $18.8 billion. Committee members said they will insist on detailed operating and financial plans before granting additional money next year. The Senate Finance Committee previously approved $57 billion to operate the RTC for a full year. The two measures must be reconciled before Congress adjourns.